Where's the love?
Glowing and burning
Blinded by thirst
They didn't see the stop sign
Took a turn for the worse
Do you have any idea how hard it is to keep both eyes on your trusty charts while shoveling sashimi into you mouth at the same time? Man--there's wasabi everywhere! To make matters worse, Fokker keeps saying "Hey Toddo, I ordered well, right? Huh? I ordered good sashimi, right? This is how you like it, right?" DUDE! I'm trying to focus! Drink a tall glass of "shut the heck up" and sit down!
Our technical patterns continue to fight the good fight and I'm trying to figure out if it's too easy to be short right now. Seriously...North Korea nukes..."red alert" rumors...NATO discord...it's getting pretty dismal out there. If only the VIX was spiking, it would all line up--but nothing's that easy in this environment!
The financials and semis continue to relatively outperform and IF the tape turns, they'll likely lead us higher. I'm not playing it that way, mind you--I'm leaning short (small) in the S&P and will simply cover if we breach my technical zones. I like assigning specific levels of action as it removes emotion from my process and, as we know, emotion is the enemy when trading.
My posts today are shorter than normal as these are dynamic times and they call for dynamic columns. Oops....the NDX just snuck through to the downside and I'm gonna wipe the wasabi off my chin and get back to work. I'm taking a lot of deep breaths today and I highly suggest it--lucidity is our friend.
Fare ye well.
Todd Harrison is the founder and Chief Executive Officer of Minyanville. Prior to his current role, Mr. Harrison was President and head trader at a $400 million dollar New York-based hedge fund. Todd welcomes your comments and/or feedback at firstname.lastname@example.org.
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